Quick Copy is one of the many copy shops near the campus. The figure shows Quick Copy's

Question:

Quick Copy is one of the many copy shops near the campus. The figure shows Quick Copy's cost curves.

a. If the market price of copying one page is 10 cents, what is Quick Copy's profit-maximizing output?

b. Calculate Quick Copy's economic profit.

c. With no change in demand or technology (OR resource prices), how will the price change in the long run?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Nov 24, 2017 10:34 AM

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Quick Copy is one of the many copy shops near the campus. The figure shows Quick Copy's

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a About 80 pages per hour To maximize profits a firm must produce the quantity where MR MC In perfec...View the full answer

Microeconomics

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